Tag Archives: collapse
Royal Bank of Canada Sued Over Failed Hedge Funds
Bloomberg – Royal Bank of Canada, the country’s biggest bank by assets, was sued by investors in Olympus United Funds who claim they lost more than $90 million in the funds’ collapse. Royal Bank, based in Toronto, “secretly managed” the […]
Hedge funds’ unlikely leader
CNNMoney.com – When the headhunter first called Richard Baker in late 2007 and asked him if he was interested in becoming president and CEO of the Managed Funds Association – the hedge fund trade group – Baker thought it was […]
Universal banks winning battle for hedge business
Reuters – Broker-dealers such as Morgan Stanley and Goldman Sachs are losing out in the battle for hedge funds’ dwindling pool of assets, as funds seek out banks with diverse sources of funding in a major shake-up of prime broking. […]
Oil Curve Steeper Than ’99 Shows Crude May Gain in ’09 on OPEC
Bloomberg – The steepest plunge in crude prices on record may be setting up oil investors for a rally this year, if history is any guide. The so-called forward curve of futures contracts traded on the New York Mercantile Exchange […]
Diversity failed? there’s always stock risk
Tacoma News Tribune – It was a year of disillusionment, betrayal and excruciating pain for investors. Wall Street got investing so wrong that the financial system needed an emergency $700 billion transfusion of taxpayer money to avoid collapse, and investors […]
Morgan Stanley may scale back prime-brokerage ops-NY Post
Trading Markets – Morgan Stanley is looking at scaling back its prime-brokerage operation, selling assets or buying a faltering regional bank, the New York Post said citing sources. The firm may also try to work out a way to piggyback […]
JPMorgan plans $1 bln Asia property spree
Reuters – JPMorgan plans to invest more than $1 billion in Asian real estate over the next three years, hoping to fill a gap as Indian and Chinese developers crave funds and rival investors recoil from property markets. The investment […]
British hedge fund buys 5% stake in Sovereign
Milwaukee Business Journal – An activist British hedge fund has taken a 5 percent stake in Sovereign Bankcorp Inc., according to a filing with the Securities and Exchange Commission. London-based Toscafund Asset Management said its passive stake amounts to 33.5 […]
Fortis sells hedge fund International Asset Management
Reuters – Belgian-Dutch financial services group Fortis said on Wednesday it had sold former ABN AMRO unit International Asset Management IAM.L as part of a strategy to bolster its balance sheet. Fortis said in a statement it had sold London-based […]
JPMorgan Marathon Embrace Begins Dimon Lure of Lost Hedge Funds
Bloomberg- A year after Andrew Rabinowitz yanked his hedge fund’s cash from Bear Stearns Cos. because of concern the Wall Street firm wouldn’t make good on its trades, he’s ready to return. For Rabinowitz’s New York-based Marathon Asset Management LLC, […]
